The Nation’s Top 10 Health Insurance Companies

The National Association of Insurance Commissioners (NAIC) has just released its list of the top-10 health insurers based on the number of policies sold. The NAIC said the ten leaders wrote close to 57% of all the policies written in the health insurance market.

Even more staggering, is the NAIC’s acknowledgement that the top-5 companies wrote 41% of those policies.

Here is the top-10 and the numbers associated with them:

1. UnitedHealth Group

  • *Direct written premiums: $195.4 billion
  • *Market share: 14.47%
  • *Memberships: 49.5 million
  • *States available: Nationwide

    UnitedHealth can not only be found in the U.S. but in 130 other countries as well. The company uses 1.3 million physicians and healthcare professionals. It works with 6,500 hospitals.

    2. Kaiser Foundation

  • *Direct written premiums: $107.8 billion
  • *Market share: 7.98%
  • *Memberships: 12.6 million

    States available: All or parts of California, Colorado, Georgia, Hawaii, Maryland, Oregon, Virginia, Washington, Washington, D.C.

    Kaiser Foundation Health Plan is a “non-profit” organization specializing in budget plans. Plans come with lower premiums and no-deductible. And all plans include prescription drugs.

    3. Elevance Health — if you’ve never heard if it, we used to call it Anthem

  • *Direct written premiums: $93.8 billion
  • *Market share: 6.95%
  • *Memberships: More than 32 million

    States available: California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia, Wisconsin

    Anthem changed its name to Elevance Health in June of this year. Plans cover the usual and its affiliated companies are Anthem Blue Cross and Blue Shield, Empire BlueCross BlueShield in New York, Anthem Blue Cross in California, Wellpoint, and Carelon.

    Elevance Health has a network of 1.7 million doctors and hospitals in 14 states. It is the largest for-profit managed health care company in the Blue Cross Blue Shield Association.

    4. Centene

  • *Direct written premiums: $82.4 billion
  • *Market share: 6.10%
  • *Memberships: More than 26 million

    States available: 29 states, including California, Florida, New York, and Texas – four of the largest Medicaid states

    Centene Corporation is a multinational healthcare company that also sits in the Fortune 500 company. The company does a lot of government-sponsored healthcare programs and is the largest Medicaid managed organization in this country.

    5. Humana

  • *Direct written premiums: $79.6 billion
  • *Market share: 5.90%
  • *Memberships: More than 20 million
  • *States available: Nationwide

    Humanas cultural foundation focuses on personalized, simplified, whole-person healthcare experiences and prides itself on helping people living healthy lives on their own terms, and when and where they need that healthcare.

    6. CVS Health

  • *Direct written premiums: $74.3 billion
  • *Market share: 5.51%
  • *Memberships: More than 23 million (medical benefits)
  • *States available: Nationwide

    CVS Health is a healthcare has more than 9,900 retail locations. The company also has close to 1,100 walk-in medical clinics. CVS is also a pharmacy benefits manager and serves 100 million people.

    7. HCSC

  • *Direct written premiums: $46.5 billion
  • *Market share: 3.44%
  • *Memberships: About 17 million
  • *States available: Illinois, Montana, New Mexico, Oklahoma, Texas

    Health Care Service Corporation (HCSC) is considered the largest customer-owned healthcare insurance company in the US. HCSC also offers life policies.

    8. Cigna

  • *Direct written premiums: $34.1 billion
  • *Market share: 2.53%
  • *Memberships: More than 17 million

    States available: Arizona, Colorado, Florida, Illinois, Kansas, Missouri, North Carolina, Tennessee, Utah, Virginia

    Cigna offers plans for individuals and families and offers dental plans, Medicare supplemental plans, Medicaid plans and more.

    9. Molina Healthcare

  • *Direct written premiums: $26.5 billion
  • *Market share: 1.97%
  • *Memberships: About four million

    States available: Arizona, California, Florida, Idaho, Illinois, Kentucky, Massachusetts, Michigan, Mississippi, Ohio, Nevada, New Mexico, New York, South Carolina, Texas, Utah, Virginia, Washington, Wisconsin

    Molina Healthcare mostly does government-sponsored healthcare plans and partners with state governments to give a wide-range of plans. It’s also a Fortune 500 company.

    10. Independence Health Group

  • *Direct written premiums: $22.8 billion
  • *Market share: 1.69%
  • *Memberships: More than eight million
  • *States available: Southeastern Pennsylvania, 27 states through affiliates

Source link: Insurance Business America —

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